splunk

Enterprise Data Software Company Splunk Files For $125M IPO

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Splunk, an enterprise data company; has filed its S-1 to go public. In the offering, Splunk aims to raises as much as $125 million. The company will list under the symbol “SPLK.”

Splunk is a provider of intelligence software used to monitor, report and analyze real-time machine data as well as terabytes of historical data–located on-premise or in the cloud. For example, Splunk indexes and makes searchable data from any app, server or network device in real-time including logs, config files, messages, and alerts. Clients can also monitor distributed deployment across thousands of servers in multiple data centers; manage the infrastructure of a cloud platform-as-a-service (PaaS); monitor performance of cloud- delivered SaaS solutions and monitor hybrid SaaS/hosted models.

Clients include Credit Suisse, Bank Of America, Comcast, Salesforce, Zynga, LinkedIn, T-Mobile, Swisscom, Shutterfly, Heroku and the US Departments of Labor and Energy. As of October 2011, the company had over 3,300 customers, including a majority of the Fortune 100.

The company’s revenue comes from fees based on client’s estimated indexing capacity needs. For fiscal 2009, 2010 and 2011, Splunk’s revenues were $18.2 million, $35 million and $66.2 million, respectively, representing year-over-year growth of 93% for 2010 and 89% growth for 2011.

In 2009, 2010, and 2011, the company took a net loss of $14.8 million, $7.5 million and $3.8 million, respectively. For the first nine months of 2011 and its fiscal year 2012, Splunk’s revenues were $43.5 million and $77.8 million, respectively, representing year-over-year growth of 79%. For the same period, Splunk took a net loss was $2 million and $9.7 million, respectively.

Splunk has raised $40 million in funding from August Capital, JK&B Capital, Ignition Partners and Sevin Rosen Funds.

Splunk has been eying a public offering for some time now, even before the IPO market for tech companies started to heat up. In 2010, Splunk’s CEO Godfrey Sullivan told us that the company had plans for an IPO in 2012. Considering that last year brought the public offerings of a number of consumer tech companies, this year could be the year of the enterprise IPO.